How will an increase in lumber prices influence the home construction market?
A. The demand for newly constructed homes will increase.
B. The demand for newly constructed homes will decrease.
C. The supply of newly constructed homes will increase.
D. The supply of newly constructed homes will decrease.
Answer: D
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In 2016, interest payments on the national debt accounted for almost _____ of federal outlays
a. 7 percent b. 25 percent c. 14 percent d. 52 percent e. 40 percent
Which of the following is a characteristic of a perfectly competitive market? a. Homogeneous products
b. Barriers to entry. c. Substantial expenditures on advertising. d. All of the above.
An increase in both the equilibrium price and the equilibrium quantity of a good could not have been caused by a shift in supply alone
a. True b. False Indicate whether the statement is true or false
To determine the total change in deposits as a result of an injection of reserves, we must
a. sum the number of loans a bank has made b. multiply the injection of reserves by 10 c. multiply the number of loans by the expenditure multiplier d. sum the reserves of each bank e. multiply the injection of reserves by the demand deposit multiplier